Sophie, the CFO of Slolum Ski Supplies, received a watch from one of her company's largest vendors, Colorado Ski Shoppe. She rec
eived the gift with a card congratulating her on Slolum's recent merger with another company. In determining whether accepting the gift would create a significant threat to her compliance with the American Institute of Certified Public Accountants Code, which factor should Sophie consider?a. Whether she disclosed receipt of the gift to the board of directors. b. Whether she truly earned the gift. c. Whether the gift was reasonable in the circumstances. d. Whether the gift cost more than $100.
<em>Revenue variance is the difference between the actual revenue and the standard revenue from the actual units sold. It is can be determined as follows:</em>
